Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $53.67

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $53.67.

Several research firms have recently commented on IDYA. UBS Group started coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $41.00 to $27.00 in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Citigroup lowered their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a report on Tuesday.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $25.59 on Monday. IDEAYA Biosciences has a 1-year low of $24.72 and a 1-year high of $47.74. The company has a 50-day moving average of $28.49 and a 200 day moving average of $34.17. The firm has a market cap of $2.21 billion, a PE ratio of -10.98 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the company earned ($0.46) EPS. Sell-side analysts anticipate that IDEAYA Biosciences will post -2.45 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in IDEAYA Biosciences by 12.1% in the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying an additional 1,365,570 shares during the last quarter. RA Capital Management L.P. acquired a new stake in shares of IDEAYA Biosciences in the third quarter valued at about $42,681,000. Janus Henderson Group PLC raised its holdings in IDEAYA Biosciences by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock valued at $163,518,000 after acquiring an additional 1,086,356 shares during the last quarter. Jennison Associates LLC lifted its stake in IDEAYA Biosciences by 136.6% in the 3rd quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock worth $30,801,000 after purchasing an additional 561,404 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after purchasing an additional 443,640 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.